General Motors Company (NYSE:GM) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 10.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 60,764 shares of the auto manufacturer’s stock after selling 7,231 shares during the period. Hartford Investment Management Co.’s holdings in General Motors were worth $2,858,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Operose Advisors LLC boosted its position in shares of General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock worth $75,000 after acquiring an additional 223 shares during the last quarter. Bessemer Group Inc. lifted its position in General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock valued at $2,856,000 after buying an additional 226 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer’s stock valued at $3,310,000 after buying an additional 230 shares in the last quarter. HHM Wealth Advisors LLC lifted its position in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock valued at $86,000 after buying an additional 232 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its position in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 235 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on GM. Benchmark began coverage on shares of General Motors in a research report on Monday, July 21st. They set a “buy” rating and a $65.00 price target on the stock. Citigroup lifted their price target on shares of General Motors from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Finally, BNP Paribas raised shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $56.35.

General Motors Stock Down 1.5%

Shares of NYSE:GM opened at $52.52 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $50.55 and a 200 day simple moving average of $48.81. The firm has a market cap of $50.00 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.06 earnings per share. On average, equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors’s payout ratio is currently 9.52%.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.